Technician

Gold Attempting to maintain bullish wave

FX:XAUUSD   Gold / U.S. Dollar
483 0 7
The completion of ABCD wave structure and double bottom pattern at 1180.00 support hinted a nice bullish recovery
Now, price is testing the main and key resistance level around 1268.00, i would like to see a break above that resistance to look for more upside and post a new trade setup. A beak above the 1268 would complete an inverted head and shoulders pattern.
Roughly, targets star at 1294.00 and higher. Will be updating with more precise outlook if a breakout occurs.
First reaction on 1268.00 test was rejection, however
Yesterday, price formed a pin bar at 1255.00 support level . A possible long here as the risk-reward ratio looks optimum at current levels, although I prefer to wait for confirmation through breaking above 1268.00 as we may head to some choppy action among those levels

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